Altimmune (NASDAQ:ALT) Stock Price Down 5.1% – Here’s What Happened

Shares of Altimmune, Inc. (NASDAQ:ALT) were down 5.1% during trading on Tuesday . The company traded as low as $8.52 and last traded at $8.54. Approximately 316,980 shares traded hands during trading, a decline of 92% from the average daily volume of 3,820,236 shares. The stock had previously closed at $9.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALT. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Altimmune in a report on Thursday, November 14th. UBS Group started coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Price Performance

The stock has a market capitalization of $561.89 million, a PE ratio of -5.10 and a beta of 0.15. The stock’s 50 day moving average is $7.85 and its two-hundred day moving average is $7.09.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. During the same quarter in the prior year, the business earned ($0.39) earnings per share. On average, equities analysts predict that Altimmune, Inc. will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

Several institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its stake in shares of Altimmune by 12.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 23,454 shares of the company’s stock worth $144,000 after acquiring an additional 2,687 shares during the period. Creative Planning increased its holdings in shares of Altimmune by 20.5% in the 3rd quarter. Creative Planning now owns 18,411 shares of the company’s stock valued at $113,000 after purchasing an additional 3,132 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Altimmune by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock valued at $1,299,000 after purchasing an additional 4,772 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Altimmune in the third quarter valued at about $31,000. Finally, Arizona State Retirement System grew its position in Altimmune by 34.4% during the second quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock worth $132,000 after buying an additional 5,081 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.

About Altimmune

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.